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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
BCexchange, the decentralized cryptocurrency exchange for everyone
Subreddit for BCexchange (short for Blocks & Chains Decentralized Exchange). B&C Exchange will be an open-source decentralized exchange that completes cryptocurrency trades between users by utilizing multisig signers that compete for blockchain rewards based on their effectiveness and honesty. Trades occur using real cryptocurrencies such as Bitcoin and NuBits.
Is destroying a bitcoin the same as donating it to everyone who owns bitcoin? How would you feel about "destroy a bitcoin day"
If you destory a bitcoin by sending it to the bitcoin eater, it lowers the supply of bitcoin making everyone's worth more. Do you think that is the same as a making a donation to every bitcoin holder? Also how would you feel about "destroy a bitcoin day" every a bunch of people send some bitcoin to the bitcoin eater to make every holder a bit richer? https://www.blockchain.com/btc/address/1BitcoinEaterAddressDontSendf59kuE
It's crazy. My friends, family, Co workers. I play lots of sports so interact with a lot of people. I like bringing it up a lot too just in hope someone knows and can relate. No one. And when they ask I explain and they chuckle and dismiss it. Isolating really.
Human's have a limited lifespan of ~80 years. Eventually, lots of Bitcoin owners will start dying, leaving behind their Bitcoin in inaccessible wallets. Most governments have systems in place which allow descendants to inherit proportions of their parent's wealth, but no such system exists for Bitcoin. Does this mean that, over a timescale of hundreds of years, the supply of Bitcoin will steadily decline?
I work with Asians who own bitcoin. If a mouse farts, they sell. My one coworker lost a great deal of money thinking he was brighter than others. He doesn't do that anymore after we spoke and he discussed with me what had happened.
Protip: Understand what countries fall under "Asian" before responding.
Who owns the Most Bitcoin? Satoshi Nakamoto (Image Source) While there is a little confusion regarding the identity of who the Bitcoin Millionaires are, the general idea is that it has to be the shadowy inventor of the coin, Satoshi Nakamoto. In the early days of Bitcoin, it is alleged that Nakamoto made over a million bitcoins. Who owns Bitcoin? Bitcoin is not operated by any single entity or company but is rather operated by the thousands of people running the Bitcoin software all over the world. There is a ledger that is kept to manage the transactions in the database. Who really owns bitcoin now? Long-term holders cashed out to short-term speculators, data show ... some 1,600 bitcoin wallets — managed by both speculators and investors — contained at least ... Launched in 2009, Bitcoin is the first and remains the most successful blockchain-based cryptocurrency in the world. The price of Bitcoin is volatile, ranging from under $10 in 2010 to just under ... Technically, Bitcoin was worth less than 10 cents per bitcoin upon its inception in 2009, now is worth around $6000 per Bitcoin. ... Although he has not revealed precisely how many bitcoins he owns, he reportedly purchased a few thousands back when they were worth a few hundred. Those would be worth millions now.
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